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New Oriental laid off 60,000 people last year. What is the current situation of New Oriental?
The present situation of New Oriental is still awkward, because New Oriental mainly relies on enrollment and tutoring to earn income. However, because the epidemic situation is more serious now and the country is also implementing the policy of double reduction, the current revenue of New Oriental is also declining. In the year-end summary of New Oriental, we can see that due to the repeated epidemic and the influence of many related policies, the business volume and revenue of New Oriental have dropped sharply, and nearly 60,000 employees have been forced to dismiss.

Many people were shocked to see what people who were not fired said. These 60 thousand people are unemployed at the same time, which will definitely have a great impact on the job market. Because these 60 thousand people are basically engaged in the education industry, they will definitely flood into the job market on a large scale. Because the epidemic is still serious, many extracurricular cram schools have been forced to close down, especially some small and medium-sized cram schools. As a large-scale educational institution, New Oriental is definitely better than these small and medium-sized educational institutions, but from now on, the present situation of New Oriental is not particularly good.

Most of these dismissed employees are educators, so after being dismissed, they must find another way out. If these people don't consider changing careers, they can only be admitted to normal departments or enter public schools to teach. So this will definitely lead to a sharp increase in the number of public examinations. Now there are many people taking the public examination, and they are very competitive. Coupled with these newly unemployed educators, the chances of landing are getting slim and slim.

But there is nothing that can be done, because the epidemic is still difficult to completely control, and the policy of double reduction has been implemented. Moreover, in many large educational institutions, their focus is not entirely on educating students, but more on publicity and collecting money. As a result, many educational institutions have been forced to start layoffs, rectification and even closure.